Mynt, the fintech company behind GCash, has authorized the filing of a registration statement with the Securities and Exchange Commission (SEC) and a listing application with the Philippine Stock Exchange (PSE) as part of a potential initial public offering (IPO).
The company announced that its Board of Directors and shareholders have approved the move, allowing Mynt to pursue a public listing subject to regulatory approvals, market conditions, and other customary requirements.
Under the proposed transaction, the offering will represent 12% of Mynt’s total outstanding capital stock after the IPO. The offer will consist of both primary and secondary shares, with each common share carrying a par value of PHP 0.03.
The disclosure was also made by Globe Telecom, one of Mynt’s key shareholders, in accordance with corporate governance and disclosure requirements.
“Over the past decade, Mynt has evolved from an e-wallet operator into the Philippines’ number one finance superapp and largest cashless ecosystem,” said Mynt President and CEO Martha Sazon.
Sazon said the authorization allows the company to work toward a potential public listing while continuing to focus on serving customers, supporting merchants, strengthening its platform, and building long-term growth.
Founded in 2015, Mynt operates GCash, which traces its roots to a mobile money remittance service launched in 2004. The platform has since expanded into a broader digital financial ecosystem offering payments, lending, and other financial services to consumers, merchants, and enterprise partners.
Mynt said a public listing could also help highlight the growth of the local technology and fintech sector, while promoting the Philippines as a hub for innovation in Southeast Asia.
The company noted that additional disclosures will be made at the appropriate time as the process progresses.
Potential IPO Details
- Offer Size: 12% of total outstanding capital stock post-IPO
- Share Type: Common shares
- Par Value: PHP 0.03 per share
- Offer Structure: Primary and secondary shares
- Status: Authorized for SEC registration and PSE listing application
- Subject To: SEC approval, PSE approval, market conditions, governance approvals, and other customary closing conditions
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